Business
Hong Kong Stocks Plunge to 1-Month Low Amid China’s Economic Slowdown: Citigroup Slashes Hang Seng Index Target
Hong Kong shares reach a one-month low as Chinese data intensifies slowdown fears and Citigroup reduces its objective. Citigroup has reduced its goal for the Hang Seng Index by 3% due to worries about consumption and the forecast for corporate profits.
The Hang Seng Index experienced a 2 per cent drop to 17,094.38 during the midday trading halt, marking the biggest one-day decline in five weeks. The Tech Index also fell by 2 per cent, and the Shanghai Composite Index decreased by 0.9 per cent, hitting an eight-month record low.
1:04 PM
What implications does it have globally when consumers in China reduce their spending?
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.